The Nigerian government has been making plans to begin local manufacturing of vehicles in the next ten years.
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite had disclosed this on Friday at the launch of the Nigeria Automotive Industry Development Plan.
The Minister stated this on Friday while launching the Nigeria Automotive Industry Development Plan at a convention that was attended by stakeholders selected from the private and public sectors.
The Minister believes that the country is able to manufacture vehicles, including motorcycles, tricycles, sedans and heavy trucks.
The Minister also noted that the goal was to reduce the cost of purchasing vehicles in the country.
“Nigeria can produce its vehicles. We have the raw materials, we have the skills, we have a market, and now we have a plan that can help us produce our vehicles. These vehicles include motorcycles, tricycles, sedans, and heavy-duty trucks.
“With this plan, we should see Nigeria fully producing its own vehicles within ten years. Our goal is to reduce the cost of buying a vehicle for the average Nigerian,” he said.
In his remarks, the Director General of the National Automotive Design and Development Council, Joseph Osanipin, stated that the policy put forward to help realise the plan was a five-year tax holiday for vehicle assemblers in Nigeria.
This news announcement is coming as vehicle imports rose by 226.46 per cent to N1,063 trillion in 2023 from N325. 05 billion in 2022, according to data gotten from the National Bureau of Statistics.
